Jeppson Wealth Management LLC Boosts Stake in W. P. Carey Inc. (NYSE:WPC)

Jeppson Wealth Management LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 17.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,605 shares of the real estate investment trust’s stock after buying an additional 3,269 shares during the period. Jeppson Wealth Management LLC’s holdings in W. P. Carey were worth $1,189,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. First United Bank & Trust acquired a new position in W. P. Carey in the fourth quarter valued at $27,000. Richardson Financial Services Inc. acquired a new position in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its stake in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of W. P. Carey in the 1st quarter valued at approximately $28,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of WPC traded up $0.10 during mid-day trading on Friday, reaching $60.83. 17,087 shares of the company’s stock were exchanged, compared to its average volume of 1,245,384. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40. The company has a 50-day simple moving average of $57.95 and a two-hundred day simple moving average of $56.92. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.12 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The company had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.72%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is presently 132.32%.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank cut their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Evercore ISI upped their price objective on shares of W. P. Carey from $61.00 to $63.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. JPMorgan Chase & Co. dropped their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

W. P. Carey Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.